Core Viewpoint - The baking industry in China is experiencing a significant downturn, with many once-popular brands rapidly closing stores and facing financial difficulties, indicating a harsh reversal from the boom seen in 2020 to the current struggles in 2025 [5][11][19]. Group 1: Industry Trends - The baking market has seen a drastic shift from a buying frenzy in 2020 to a wave of store closures by 2025, highlighting a severe industry contraction [5][10]. - In 2024, the baking market size is projected to grow by 5.2% year-on-year, reaching 110.5 billion yuan, despite the challenges faced by many brands [18]. - Data shows that in 2024, 103,000 new baking stores opened while 95,000 closed, resulting in a net increase of only 8,000 stores [13]. Group 2: Company Performance - Major baking companies have reported significant declines in revenue and profit, with "bread leader" Taoli Bread's revenue growth dropping from 6.24% to -9.93% over four years, and net profit shrinking by 31.58% [15]. - Yuanzi Co. experienced a nearly 13% decline in revenue and a nearly 10% drop in net profit in 2024, while Maiqu'er reported a 10.4% revenue decline and a staggering 137.37% drop in net profit, resulting in a loss of 230 million yuan [17]. Group 3: Market Dynamics - The rapid expansion of baking brands, driven by capital influx, has led to a common pattern of bankruptcy due to overexpansion and financial mismanagement [19][21]. - The industry faces inherent challenges, such as rapid imitation of popular products leading to price wars and declining profit margins, which have fallen to 5%-10% [20]. - The competitive landscape is shifting, with traditional brands like Haolilai and Baoshifu maintaining their market positions through stable product quality, while new entrants focus on "handmade and healthy ingredients" [32][33]. Group 4: Future Outlook - To survive the industry's cyclical nature, brands must prioritize product innovation, quality control, and strategic expansion, as evidenced by the ongoing challenges faced by new entrants [34].
网红烘焙的冬天还没结束
创业邦·2025-06-27 03:10